Nasdaq Commodities

The rebalancing of the oil market has been possible, in part, due to the sharp cutbacks in U.S. shale production. But what happens next for the industry? 

The president of COFCO, China's top state grains, Yu Xubo, has left the company to head China General Technology Group, according to two sources and a company notice.

Iberia has rescheduled deliveries of Airbus A350 and A320neo aircraft, and plans to withdraw 14 older Airbus A340 jets from its fleet, as the coronavirus crisis curbs air travel.

Austrian short-haul budget carrier Level Europe plans to file for insolvency, it said on Thursday, becoming the latest airline casualty of the coronavirus crisis despite the financial might of parent IAG.

(RTTNews) - Oil price rose on Thursday ahead of a meeting between OPEC producers and their allies to discuss their future output strategy.

The U.S. Chamber of Commerce on Thursday underscored the importance of functional U.S.-China ties and urged Beijing to step up its purchases of U.S. goods and services as agreed under a Phase 1 trade deal despite delays caused by the coronavirus.

Level Europe, an Austrian low-cost short-haul airline which is part of the parent group of British Airways, IAG, said in a statement on Thursday that it intends to file for insolvency.

South African retailer TFG said on Thursday it plans to raise 3.95 billion rand ($229.66 million) through a rights offer to lower debt and protect its balance sheet, as profits fell by 1.1% in the year to March 31.

Spain's airport operator Aena cut landing fees and delayed other charges to encourage air traffic resumption after the coronavirus pandemic triggered the grounding of flights worldwide, CEO Maurici Lucena said on Thursday.

South Africa's Sasol Ltd plans to cut jobs and end West African oil operations as part of a business revamp, the petrochemicals producer said on Thursday, adding it had also agreed a deal with lenders to relax borrowing rules.

South Africa's Sasol Ltd will discontinue all oil growth activities in West Africa, the petrochemicals producer said on Thursday, as part of a review of its business and associated workforce structures.

Maintenance firms and spare parts producers who keep airplanes running are bracing for a decline of up to 75% in sales this year - and more pain to follow - as airlines park or retire thousands of aircraft due to the coronavirus pandemic.

The last convoy of outsize parts for the world's largest airliner crawled towards an assembly plant in southwest France late Wednesday, applauded by residents and production workers as Europe's Airbus prepares to build the last A380 superjumbo.

Qantas Airways Ltd said on Thursday it had cancelled most international flights until late October after the Australian government indicated its border closure because of the coronavirus was likely to extend to 2021.

The Turkey Wealth Fund (TWF) said on Thursday it agreed to buy 26.2% of shares in mobile operator Turkcell Iletisim under a series of agreements, with Swedish telecom company Telia divesting its indirect stake for $530 million.

The U.S. Transportation Department said on Wednesday it fined Panama's Copa Airlines $450,000 for unlawfully transporting passengers between the United States and Venezuela via a stopover point, and ordered the airline to avoid future similar violations.

Air New Zealand Ltd on Thursday forecast an underlying loss of up to NZ$120 million ($77.50 million) for the financial year ending June 30, as it grapples with a plunge in air travel demand following the coronavirus outbreak.

Chile´s vaunted lithium industry, the world´s second largest, has begun to feel the impact of a runaway coronavirus outbreak nationwide, though top producers SQM and Albemarle said output from their Atacama operations nonetheless remained unscathed.

Namibia's Ministry of Agriculture said on Wednesday it had detected an outbreak of red locusts in central regions of the southern African country and had sent pest control teams to the affected areas.

LATAM Airlines Group on Wednesday said its Argentine subsidiary will cease operations indefinitely, canceling all domestic flights, its first major cutback since filing for bankruptcy protection.